《大行报告》瑞信料疫情对腾讯(00700.HK)影响大致中性 重申「跑赢大市」评级
瑞信发表研究报告指腾讯(00700.HK)去年第四季收入增长稳健,升25%至1,050亿元人民币,符预期,经调整纯利升29%至255亿元人民币,亦大致符预期。
该行指,公司手机游戏收入升37%,增值服务毛利略逊预期,广告收入增长提速至19%胜预期,金融科技稳健升39%。至於新型肺炎疫情影响大致中性,手机游戏可以短期受惠,该行料首季手游增长达40%;不过广告业务会受企业减少开支影响,但社交媒体广告较大可能维持其韧性;而支付业务会受影响,因线下交易量在疫症爆发後显着减少。
该行略调整腾讯2020及21年盈利预测约1%,重申对其看法正面,维持「跑赢大市」评级,目标价460元不变。
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